Feb
16

Economic Update — Grocery-Anchored Centers Maintain (Relative) Edge

By
– Commercial Property News

Are grocery stores and grocery-anchored centers immune to the slings and arrows of outrageous economic fortune? Or at least better prepared to weather the recession by virtue of the fact that people have to eat?

Maybe, maybe not. Earlier this week, Citigroup downgraded Kroger to “hold” and Safeway to “sell,” and share prices in those companies and other grocery specialists fell in response. The thinking is that imminent price wars among the major grocery chains are going to hurt the business, with the likes of Costco already cutting prices on staples such as milk and eggs.

Still, retail space brokers are reporting leasing deals in grocery-anchored centers, though naturally they’re considerably harder to do than even a year ago. For example, at the Shoppes at Fairhope Village, a grocery-anchored center until construction in Fairhope, Ala., not far from Mobile, McConnell Training Systems, a personal training studio, has inked a deal for 2,500 square feet. The center, which measures 84,700 square feet, is anchored by a 54,300-square-foot Publix Super Market.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.commercialpropertynews.com/cpn/content_display/property-types/retail/e3i1399f628c24f49a2b85f18c97727b732
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